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The internet is experiencing unprecedented growth, emerging as a vital force propelling China's economic and social development (Meng et al., 2023). Online sales, in turn, are marked by a significant positive trend, and internet marketing has become increasingly prosperous (Yang, 2021). However, information asymmetry is a common phenomenon in e-commerce platforms. Online stores can use a variety of ways to transmit signals to eliminate information asymmetry and affect the consumption process of customers. In signal theory, a signal refers to an observable and operable individual characteristic, which is sent to eliminate the information asymmetry (Spence, 2002). Online stores generally transmit commodity signals through e-commerce platforms. One type of signal is the objective information of commodities, such as color and texture, which are unalterable. The other type is alterable signals, including commodity inventory and discounts. Alterable commodity signals often appear in the marketing strategies of online stores, such as disclosing scarce inventory and discount messages. Online stores send scarcity signals to indicate that the availability of commodities is limited (Lynn, 1991), which will stimulate consumers' strong desire to purchase (Schindler, 1989). For instance, Nike has created a limited collection of star basketball shoes to persuade basketball fans, which sends a scarcity signal to consumers. Given their adoration of basketball stars, together with the psychology of herd mentality, curiosity, and showing off, many basketball aficionados can be easily attracted by this hunger marketing (Zheng, 2022). Moreover, because e-commerce can disclose both commodity discount rates and commodity discount time messages, these discount signals can improve consumers’ purchase intention (Aggarwal et al., 2011). This paper considers whether signals disclosing scarce inventory or offering discounts by online stores to consumers can effectively promote online sales.
Previous studies underscore the significance of information disclosure regarding scarce inventory on online sales, although the extent of this influence remains uncertain. On one hand, scarcity and lower-availability commodities transmit the scarcity signal to consumers to fuel their purchasing desire (Brock, 1968; Jung & Kellaris, 2004; Roux et al., 2015). The information disclosure of scarce inventory serves as a signal to consumers, potentially heightening their inclination to make a purchase (Gierl & Huettl, 2010; Wells et al., 2011). Scholars have proven that scarcity signals can indeed enhance consumers' purchase intention. For example, Oruc (2015) clarifies that consumers' value perception, such as commodity attraction, availability expectations, product quality, and so on, will be affected by the commodity scarcity signals, thus affecting consumers' purchasing decisions. Nichols (2012) finds that the commodities’ scarcity signal arouses consumers' perception of competitiveness, thus prompting their willingness to purchase and pay to a certain extent. So, the information disclosure of scarce inventory is a scarcity signal that can promote the consumer’s purchase intention, thereby boosting the sales of online sales. On the other hand, conflicting evidence exists. Park et al. (2020) discovered that information disclosure of scarce inventory for durable commodity orders led to a 17.6% decline in daily sales of commodities. Chaouachi & Rached (2012) reveal that consumers' defense mechanisms make them more vigilant towards scarcity signals. This, to some extent, inhibits the promotional effect of the scarcity signal on purchase intention. So, the information disclosure of scarce inventory may not promote the consumer’s purchase intention or online sales. Thus, it can be seen that the signal of information disclosure regarding scarce inventory may have both positive and negative effects on online sales, revealing uncertainty in the conclusion.